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CINCINNATI — Neyer Properties has purchased a nearly 400,000-square-foot commercial portfolio occupied by Watson’s in a sale-leaseback transaction. The purchase price was undisclosed. The four-building portfolio consists of three retail assets and one industrial property that are located in the Cincinnati, Florence, Dayton and St. Louis markets. The sale-leaseback will enable Watson’s to free up capital as it looks to expand in additional markets, according to Neyer. The sale marks the first time Watson’s has sold its own real estate. Keith Yearout of Newmark represented Watson’s, which is a pool, spa and furniture retailer based in Cincinnati.